Promise made, promise broken

[PoliTalker]

The richest got richer.

We got the bill.

[Nordberg]

Trump has already told his people that the debt does not matter. He figures he will not be around when it has to be dealt with. Trump cares about Trump.

[countryboy]

The richest got richer.

We got the bill.

And you call Trump a liar? Hypocrite much?

[Loving91390]

Oh STFU you liberal douche bags .... not a peep out of you when Obama doubled our debt !!!

A lot of interest has to be paid on that debt .....

[Nordberg]

Um, aren't you jumping the gun? Is 3 years synonymous with 8 years? Might be time to cut back on the weed a little bit.

Adding 3 trillion-plus is not exactly a method for ending the debt, The plan is not working well. Trump is talking about slashing SS, Medicare, Medicaid and Food Stamps. I suppose that would work making you quite happy.

[Mason Michaels]

Oh STFU you liberal douche bags .... not a peep out of you when Obama doubled our debt !!!

A lot of interest has to be paid on that debt .....

So Obama =bad
Trump =good?

[Dachshynddawg]

Yep. Interesting graph. Source is at the bottom.

Dear FOWL Woman,


Trump was interviewed by Bob Woodward, a journalist at the "Washington Post" on 3rd April, 2016, and he said that America was not a rich country, rather it was a debtor country. When asked how long it might take to get rid of America's 19 trillion dollar national debt (this was the rough figure at the time of the interview in 2016), Trump said "a period of 8 years."


Here's a transcript of the relevant section of the interview that was published in the "Washington Post" a few day later...





DT: "And these countries are richer than us. We're not a rich country. WE're a debtor nation. We've got to get rid of - I talked about bubble. We've got to get rid of the 19 trillion dollar in debt."


BW: "How long would that take ? "


DT: "I think we can do it fairly quickly, because of the fact the numbers..."


BW: "What's fairly quickly ?"


DT: "Well, I would say over a period of eight years. And I'll tell you why."


BW: "Would you ever be open to tax increases as part of that, to solves the problem ?"


DT: " I don't think we need to. The power is trade. Our deals are so bad."





So there you have it, as a Presidential candidate, Trump, said that he could pay of the National debt in eight years.


Notice that TRUMP also said America is a DEBTOR nation- not a "rich" country.


The naiveity of many members of the forum astounds me. OF COURSE Trump was never going to be able to wipe out America's 19 trillion dollar national debt in 2016 by the year 2024. What did you expect him to say ? "Well, Bob, we're going to need to let it blow out a bit in fact because I've got to buy some new warships and F-113 Fighter jets and tanks because Obama let the entire US military go to shit; and that just one thing my government is going to have to pay a hell of a lot of money for. But you don't really need to stress out about the America's national debt in any case, Bob, because, really it's a non-issue."


Consider...


The current national debt level in America (approx 23 trillion dollars) does not indicate any risk if imminent default.


As long as "Uncle Sam" remains an ongoing concern, i.e; the US Federal Government's fiscal institutions are strong and effective, taxing authority is maintained in the long-run, the productive capacity of the nation's economy is secure - there is no economic reason to default on the nation's debt.


To remain solvent and ultimately pay what it owes, the US Treasury - which sells notes and bonds to raise money to finance the budget deficit - need only balance its books over the long-term rather than any arbitrary unit of time like a year, or four years or even eight years.


Historically, low interest rates on government debt suggest the bond market participants agree with this view and are not afraid of sovereign debt default in the US. In fact, with low rates, sufficient EC you can allow the government to borrow indefinitely.


Although the current US national debt figure of 23 trillion dollars is a large number, it is ESSENTIALLY IRRELEVANT to proper thinking about the economic role of the government or what is responsible fiscal policy.


Government debt just reflects the timing on taxes. Higher spending levels today require more borrowing - and a larger debt - as long as the taxes needed to pay for the expenditures are pushed into the future.


But regardless of when taxes are collected, what ultimately matters is the QUANTITY of the economy's SCARCE RESOURCES the government commands, and how those resources are used, which, in turn, essentially depend on the level and nature of government spending.


In short, government debt can be a BAD indicator of the stance of fiscal policy or its burden on the private sector. For example, the government can be wildly intrusive in the economy and therefore a hindrance to growth and welfare even if it debt is low. Venezuela, for example had sovereign debt that was only 23% of GDP in 2017, yet its economy has now been in turmoil (to say the least) for several years. (Gee Whizz, I wonder what caused that ?).


Or , on the other hand, it can effectively manage spending to promote welfare even if debt is high. In 1945, after the war, the US debt to GDP ration was 220%, immediately after FDR mobilized to economy for WW II.



Dachshund

[Nordberg]

Dear Owl Woman,


Trump was interviewed by Bob Woodward, a journalist at the "Washington Post" on 3rd April, 2016, and he said that America was not a rich country, rather it was a debtor country. When asked how long it might take to get rid of America's 19 trillion dollar national debt (this was the rough figure at the time of the interview in 2016), Trump said "a period of 8 years."


Here's a transcript of the relevant section of the interview that was published in the "Washington Post" a few day later...





DT: "And these countries are richer than us. We're not a rich country. WE're a debtor nation. We've got to get rid of - I talked about bubble. We've got to get rid of the 19 trillion dollar in debt."


BW: "How long would that take ? "


DT: "I think we can do it fairly quickly, because of the fact the numbers..."


BW: "What's fairly quickly ?"


DT: "Well, I would say over a period of eight years. And I'll tell you why."


BW: "Would you ever be open to tax increases as part of that, to solves the problem ?"


DT: " I don't think we need to. The power is trade. Our deals are so bad."





So there you have it, as a Presidential candidate, Trump, said that he could pay of the National debt in eight years.


Notice that TRUMP also said America is a DEBTOR nation- not a "rich" country.


The naiveity of many members of the forum astounds me. OF COURSE Trump was never going to be able to wipe out America's 19 trillion dollar national debt in 2016 by the year 2024. What did you expect him to say ? "Well, Bob, we're going to need to let it blow out a bit in fact because I've got to buy some new warships and F-113 Fighter jets and tanks because Obama let the entire US military go to shit; and that just one thing my government is going to have to pay a hell of a lot of money for. But you don't really need to stress out about the America's national debt in any case, Bob, because, really it's a non-issue."


Consider...


The current national debt level in America (approx 23 trillion dollars) does not indicate any risk if imminent default.


As long as "Uncle Sam" remains an ongoing concern, i.e; the US Federal Government's fiscal institutions are strong and effective, taxing authority is maintained in the long-run, the productive capacity of the nation's economy is secure - there is no economic reason to default on the nation's debt.


To remain solvent and ultimately pay what it owes, the US Treasury - which sells notes and bonds to raise money to finance the budget deficit - need only balance its books over the long-term rather than any arbitrary unit of time like a year.


Historically, low interest rates on government debt suggest the bond market participants agree with this view and are not afraid of sovereign debt default in the US. In fact, with low rates, sufficient EC you can allow the government to borrow indefinitely.


Although the current US national debt figure of 23 trillion dollars is a large number, it is essentially irrelevant to proper thinking about the economic role of the government or what is responsible fiscal policy.


Government debt just refects the timing on taxes. Higher spending levels today require more borrowing - and a larger debt - as long as the taxes needed to pay for the expenditures are pushed into the future.


But regardless of when taxes are collected, what ultimately matters is the QUANTITY of the economy's SCARCE RESOURCES the government commands, and how those resources are used, which, in turn, essentially depend on the level and nature of government spending.


In short, government debt can be a BAD indicator of the stance of fiscal policy or its burden on the private sector. For example, the government can be wildly intrusive in the economy and therefore a hindrance to growth and welfare even if it debt is low. Venezuela, for example had sovereign debt that was only 23% of GDP in 2017, yet its economy has now been in turmoil (to say the least) for several years. (Gee Whizz, I wonder what caused that ?).


Or , on the other hand, it can effectively manage spending to promote welfare even if debt is high. In 1945, after the war, the US debt to GDP ration was 220%, immediately after FDR mobilized to economy for WW II.



Dachshund

Trump, the guy who said he was the ,master of using borrowed money. That the guy you are talking about? Trump picked 8 because he would be gone and it would be somebody else's problem. https://www.businessinsider.com/trum...report-2018-12 Trump is bluffing his way through the next year.

[Dachshynddawg]

Trump, the guy who said he was the ,master of using borrowed money. That the guy you are talking about? Trump picked 8 because he would be gone and it would be somebody else's problem. https://www.businessinsider.com/trum...report-2018-12 Trump is bluffing his way through the next year.

No kidding, Nordberg ! Gee, thanks for explaining that to me - your understanding of politics is amazing !!!


Dachshund

[Dachshynddawg]

Adding 3 trillion-plus is not exactly a method for ending the debt, The plan is not working well. Trump is talking about slashing SS, Medicare, Medicaid and Food Stamps. I suppose that would work making you quite happy.

What a pile of bullshit, Nordberg - you lying little CUNT !

Dachshand

[Gonzomin]

No kidding, Nordberg ! Gee, thanks for explaining that to me - your understanding of politics is amazing !!!


Dachshund

Yours does not exist.

[Gonzomin]

What a pile of bullshit, Nordberg - you lying little CUNT !

Dachshand

Trump's words. I guess Infowars did not run them.

[ThatOwlWoman]

Dear Dogpoop: <bunch of partisan dreck dredged from the golden toilets at TRE45ON Towers....>

Do you really think that anyone with an IQ over 90 will buy your propaganda? It's amazing how you marks actually believe this stupidity, which is only "true" during the tenure of any given (R) president. Otherwise, it's

DEBT IS BAD! WE'RE ALL GONNA DIE! IMPEACH THE <insert name of (D) POTUS here>!!!

[christiefan915]

Trump said he would eliminate the debt in eight years, instead he has increased it by 3 trillion bucks

https://www.newsweek.com/donald-trum...idency-1483660

Maybe he has to grow it before he eliminates it.

[Loving91390]

So Obama =bad
Trump =good?

Mason=stupid !